Wrap Text
Index Change Advice – 20200316 Investec Unbundling of Ninety One
Investec Plc (South Africa) and Investec Ltd (South Africa): Unbundling
of Ninety One Plc (South Africa) and Ninety One Ltd (South Africa)
FTSE/JSE Africa Index Series
11 March 2020
Further to the FTSE/JSE notice released 18 February 2020, and subject to the completion of the
unbundling of Ninety One Plc (South Africa, non-constituent) from Investec Plc (South Africa, constituent)
and Ninety One Ltd (South Africa, non-constituent) from Investec Ltd (South Africa, constituent), please
see details of affected indexes and effective dates below:
Effective From
Index Change
Start of Trading
FTSE/JSE Top 40 Index (J200) Ninety One Plc (South Africa, 16 March 2020
GB00BJHPLV88, BKTT3Z3) will be added
to the index with a shares in issue total
of 622,624,622* and an investability
weighting of 53.774895402447*%.
Ninety One Ltd (South Africa,
ZAE000282356, BKTT3Y2) will be added
to the index with a shares in issue total
of 300,089,454* and an investability
weighting of 50.106249485195*%.
Investec Plc (South Africa,
GB00B17BBQ50, B1DHG40) will remain
in the index with an unchanged shares
in issue total of 696,082,618 and an
unchanged investability weighting of
96.199999992064%.
Investec Ltd (South Africa,
ZAE000081949, B17BBR6) will remain in
the index with an unchanged shares in
issue total of 318,904,709 and an
unchanged investability weighting of
94.300000129506%.
FTSE/JSE All Share Index (J203) Ninety One Plc will be added to the index 16 March 2020
as detailed above.
Ninety One Ltd will be added to the index
as detailed above.
Investec Plc will remain in the index as
detailed above.
Investec Ltd will remain in the index as
detailed above.
Effective From
Index Change
Start of Trading
FTSE/JSE Large Cap Index (J205) Ninety One Plc will be added to the index 16 March 2020
as detailed above.
Ninety One Ltd will be added to the index
as detailed above.
Investec Plc will remain in the index as
detailed above.
Investec Ltd will remain in the index as
detailed above.
FTSE/JSE Large and Mid Cap Index Ninety One Plc will be added to the index 16 March 2020
(J206) as detailed above.
Ninety One Ltd will be added to the index
as detailed above.
Investec Plc will remain in the index as
detailed above.
Investec Ltd will remain in the index as
detailed above.
FTSE/JSE Financial 15 Index (J212) Ninety One Plc will be added to the index 16 March 2020
as detailed above.
Ninety One Ltd will be added to the index
as detailed above.
Investec Plc will remain in the index as
detailed above.
Investec Ltd will remain in the index as
detailed above.
FTSE/JSE Financial & Industrial 30 Ninety One Plc will be added to the index 16 March 2020
Index (J213) as detailed above.
Ninety One Ltd will be added to the index
as detailed above.
Investec Plc will remain in the index as
detailed above.
Investec Ltd will remain in the index as
detailed above.
FTSE/JSE Equally Weighted Top 40 Ninety One Plc will be added to the index 16 March 2020
Index (J2EQ) as detailed above.
Ninety One Ltd will be added to the index
as detailed above.
Investec Plc will remain in the index as
detailed above.
Investec Ltd will remain in the index as
detailed above.
Effective From
Index Change
Start of Trading
FTSE/JSE Equally Weighted Ninety One Plc will be added to the index 16 March 2020
Financial 15 Index (J4EQ) as detailed above.
Ninety One Ltd will be added to the index
as detailed above.
Investec Plc will remain in the index as
detailed above.
Investec Ltd will remain in the index as
detailed above.
FTSE/JSE RAFI All Share Index Ninety One Plc will be added to the index 16 March 2020
(J263) as detailed above.
Ninety One Ltd will be added to the index
as detailed above.
Investec Plc will remain in the index as
detailed above.
Investec Ltd will remain in the index as
detailed above.
FTSE/JSE RAFI All Share Capped Ninety One Plc will be added to the index 16 March 2020
Index (J283) as detailed above.
Ninety One Ltd will be added to the index
as detailed above.
Investec Plc will remain in the index as
detailed above.
Investec Ltd will remain in the index as
detailed above.
FTSE/JSE Capped Top 40 Index Ninety One Plc will be added to the index 16 March 2020
(J300) as detailed above.
Ninety One Ltd will be added to the index
as detailed above.
Investec Plc will remain in the index as
detailed above.
Investec Ltd will remain in the index as
detailed above.
FTSE/JSE Capped All Share Index Ninety One Plc will be added to the index 16 March 2020
(J303) as detailed above.
Ninety One Ltd will be added to the index
as detailed above.
Investec Plc will remain in the index as
detailed above.
Investec Ltd will remain in the index as
detailed above.
Effective From
Index Change
Start of Trading
FTSE/JSE Style Index (J330 and Ninety One Plc will be added to the index 16 March 2020
J331) as detailed above.
Ninety One Ltd will be added to the index
as detailed above.
Investec Plc will remain in the index as
detailed above.
Investec Ltd will remain in the index as
detailed above.
FTSE/JSE RAFI 40 Index (J260) Ninety One Plc will be added to the index 16 March 2020
as detailed above.
Ninety One Ltd will be added to the index
as detailed above.
Investec Plc will remain in the index as
detailed above.
Investec Ltd will remain in the index as
detailed above.
FTSE/JSE Responsible Investment Ninety One Plc will be added to the index 16 March 2020
Top 30 Index (J110) as detailed above.
Ninety One Ltd will be added to the index
as detailed above.
Investec Plc will remain in the index as
detailed above.
Investec Ltd will remain in the index as
detailed above.
FTSE/JSE Top 40 Minimum Variance Ninety One Plc will be added to the index 16 March 2020
Index (J700) as detailed above.
Ninety One Ltd will be added to the index
as detailed above.
Investec Plc will remain in the index as
detailed above.
Investec Ltd will remain in the index as
detailed above.
FTSE/JSE All Share Comprehensive Ninety One Plc will be added to the index 16 March 2020
Factor Index (J203CF) as detailed above.
Ninety One Ltd will be added to the index
as detailed above.
Investec Plc will remain in the index as
detailed above.
Investec Ltd will remain in the index as
detailed above.
Effective From
Index Change
Start of Trading
FTSE/JSE All Share Yield Factor Ninety One Plc will be added to the index 16 March 2020
Index (J203DF) as detailed above.
Ninety One Ltd will be added to the index
as detailed above.
Investec Plc will remain in the index as
detailed above.
Investec Ltd will remain in the index as
detailed above.
FTSE/JSE All Share Low Volatility Ninety One Plc will be added to the index 16 March 2020
Focused Factor Index (J203LF) as detailed above.
Ninety One Ltd will be added to the index
as detailed above.
Investec Plc will remain in the index as
detailed above.
Investec Ltd will remain in the index as
detailed above.
FTSE/JSE All Share Momentum Ninety One Plc will be added to the index 16 March 2020
Factor Index (J203MF) as detailed above.
Ninety One Ltd will be added to the index
as detailed above.
Investec Plc will remain in the index as
detailed above.
Investec Ltd will remain in the index as
detailed above.
FTSE/JSE All Share Quality Factor Ninety One Plc will be added to the index 16 March 2020
Index (J203QF) as detailed above.
Ninety One Ltd will be added to the index
as detailed above.
Investec Plc will remain in the index as
detailed above.
Investec Ltd will remain in the index as
detailed above.
FTSE/JSE All Share Size Factor Ninety One Plc will be added to the index 16 March 2020
Index (J203SF) as detailed above.
Ninety One Ltd will be added to the index
as detailed above.
Investec Plc will remain in the index as
detailed above.
Investec Ltd will remain in the index as
detailed above.
Effective From
Index Change
Start of Trading
FTSE/JSE All Share Value Factor Ninety One Plc will be added to the index 16 March 2020
Index (J203VF) as detailed above.
Ninety One Ltd will be added to the index
as detailed above.
Investec Plc will remain in the index as
detailed above.
Investec Ltd will remain in the index as
detailed above.
FTSE/JSE All Share Volatility Factor Ninety One Plc will be added to the index 16 March 2020
Index (J203VOF) as detailed above.
Ninety One Ltd will be added to the index
as detailed above.
Investec Plc will remain in the index as
detailed above.
Investec Ltd will remain in the index as
detailed above.
FTSE/JSE Shareholder Weighted All Ninety One Plc (South Africa, 16 March 2020
Share Index (J403) GB00BJHPLV88, BKTT3Z3) will be added
to the index with a shares in issue total
of 622,624,622* and an investability
weighting of 29.8182910795693*%.
Ninety One Ltd (South Africa,
ZAE000282356, BKTT3Y2) will be added
to the index with a shares in issue total
of 300,089,454* and an investability
weighting of 50.1062494851953*%.
Investec Plc (South Africa,
GB00B17BBQ50, B1DHG40) will remain
in the index with an unchanged shares
in issue total of 696,082,618 and an
unchanged investability weighting of
53.343099603452%.
Investec Ltd (South Africa,
ZAE000081949, B17BBR6) will remain in
the index with an unchanged shares in
issue total of 318,904,709 and an
unchanged investability weighting of
94.300000129506%.
Ninety One Plc will remain in the index 23 March 2020
as detailed above, with an updated
investability weighting from
29.8182910795693*% to
53.774895402447**%.
Effective From
Index Change
Start of Trading
FTSE/JSE Capped Shareholder Ninety One Plc will be added to the index 16 March 2020
Weighted All Share Index (J433) as detailed above.
Ninety One Ltd will be added to the index
as detailed above.
Investec Plc will remain in the index as
detailed above.
Investec Ltd will remain in the index as
detailed above.
Ninety One Plc will remain in the index 23 March 2020
as with an updated investability
weighting as detailed above.
FTSE/JSE Shareholder Weighted Ninety One Plc will be added to the index 16 March 2020
Top 40 Index Index (J400) as detailed above.
Ninety One Ltd will be added to the index
as detailed above.
Investec Plc will remain in the index as
detailed above.
Investec Ltd will remain in the index as
detailed above.
Ninety One Plc will remain in the index 23 March 2020
as with an updated investability
weighting as detailed above.
FTSE/JSE Capped Shareholder Ninety One Plc will be added to the index 16 March 2020
Weighted Top 40 Index (J430) as detailed above.
Ninety One Ltd will be added to the index
as detailed above.
Investec Plc will remain in the index as
detailed above.
Investec Ltd will remain in the index as
detailed above.
Ninety One Plc will remain in the index 23 March 2020
as with an updated investability
weighting as detailed above.
FTSE/JSE Shareholder Weighted Ninety One Plc will be added to the index 16 March 2020
Financial 15 Index (JSZ2) as detailed above.
Ninety One Ltd will be added to the index
as detailed above.
Investec Plc will remain in the index as
detailed above.
Investec Ltd will remain in the index as
detailed above.
Effective From
Index Change
Start of Trading
Ninety One Plc will remain in the index 23 March 2020
as with an updated investability
weighting as detailed above.
FTSE/JSE Shareholder Weighted Ninety One Plc will be added to the index 16 March 2020
Financial & Industrial 30 Index as detailed above.
(JSZ3)
Ninety One Ltd will be added to the index
as detailed above.
Investec Plc will remain in the index as
detailed above.
Investec Ltd will remain in the index as
detailed above.
Ninety One Plc will remain in the index 23 March 2020
as with an updated investability
weighting as detailed above.
FTSE/JSE Responsible Investment Ninety One Plc will be added to the index 16 March 2020
Index (J113) as detailed above.
Ninety One Ltd will be added to the index
as detailed above.
Investec Plc will remain in the index as
detailed above.
Investec Ltd will remain in the index as
detailed above.
Ninety One Plc will remain in the index 23 March 2020
as with an updated investability
weighting as detailed above.
* The number of shares will reflect the total number of shares listed on the ex-date, the number of
index shares will reflect the terms of one Ninety One Plc share for every two Investec Plc shares held
or one Ninety One Ltd share for every two Investec Ltd shares held.
** Ninety One Plc’s investability weighting will be updated within the Shareholder weighted Indexes to
reflect the foreign status, and mirror the All Share Investability weighting.
The ICB classification for Ninety One Plc and Ninety One Ltd will be 8777 (Investment Services) upon
listing, the ICB classification will be updated to 8771 (Asset Managers) effective from the open 23
March 2020.
Please note:
For the Indexes which have a fixed number of constituents, the indexes will be ranked using the
closing prices on Monday 16 March. Ninety One will be treated as a single company, similar to
Investec, and the aggregate of the multiple lines will be used for ranking by company market cap. The
investable market capitalisation for Ninety One Plc only will be determined on a forward looking basis,
incorporating its foreign company status. All changes will be implemented in conjunction with the
review, effective from the open Monday 23 March 2020.
Further notices will be released detailing the changes as a result of the re-ranking process, and the
secondary offering (subject to breaching market capitalisation thresholds for an intra-quarter update).
For further information please contact FTSE Russell Client Services at info@ftserussell.com or indices@jse.co.za or call:
Australia +1800 653 680
Hong Kong +852 2164 3333
Japan +81 3 4563 6346
London +44 (0) 20 7866 1810
New York +1866 551 0617
JSE Limited +27 11 520 7000
Alternatively please visit our website at www.ftserussell.com or www.ftsejse.co.za
Terms of Use | Copyright © 2020 FTSE Russell
Date: 11-03-2020 05:15:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Sharenet Sites 
